Reliance Industries Ltd’s retail arm has invested $200 million (around ₹1,488 crore) in Bengaluru-headquartered Dunzo as it looks to get a foothold in the country’s rapidly growing market of quick delivery.
With the investment of $200 million, Reliance Retail will own 25.8% stake in the online delivery platform on a fully diluted basis.
Existing investors Lightbox, Ligthrock, 3L Capital and Alteria Capital also participated in the latest funding round that was led by Reliance Retail Ventures Ltd.
“With an investment of USD 200 million, Reliance Retail will own 25.8 per cent stake,” the statement said.
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